Retail business still contains huge opportunities to tap into considering the fact that various consumption requirements are not yet fully satisfied, said a senior executive of Shui On Xintiandi Ltd, a leading investor and manager of premium and sustainable commercial properties.

"Many retail operators and the general public may think the industry is challenged by various factors, but in our opinion, there is huge potential for us to explore," said Zhang Bin, CEO of Shui On Xintiandi Ltd.

According to Zhang, various consumption needs ranging from experience, emotional satisfaction to culture call for the offering of tailored-made products and services.

"In fact, by repositioning ourselves as a sustainable urban development solution provider, Shui On is benefiting from this strategy," Zhang said.

Being one of the first suburban village renovation projects to open in Shanghai, Panlong Tiandi, an urban retreat destination developed by Shui On, has received more than 25 million passenger trips in its first year of operation as of the end of April.

Hong Shou Fang, a project situated in Shanghai's Putuo district and opened last September, is another successful example of Shui On. As one of the latest examples of small-scale urban renovation in the city, the project's 15,000 sq m retail space receives some 40,000 visitors on average per day, with its sales revenue well above market average, Zhang said.